Biodiversity Conservation in a Game Theoretic Model of a Fishery

Abstract:

This paper proposes a game theoretic modeling framework for the assessment of the trade-off between economic
efficiency gains and biodiversity conservation in a fishery. It introduces a biodiversity index, and develops an application of
the method couched on Namibian hake fisheries. Results from the illustrative example show that the opportunity cost of
achieving a “near perfect” level of biodiversity conservation is high. On a more positive note, however, the results also
indicate that it is possible (through appropriate management action) to achieve reasonably high biodiversity levels without
losing most of the potential economic gains.

Keyword:Fisheries EconomicsManagementBiological, Environmental, and Social Processes